Aviso Wealth Management Has $605,000 Holdings in Diamondback Energy, Inc. (NASDAQ:FANG)

Aviso Wealth Management lessened its holdings in shares of Diamondback Energy, Inc. (NASDAQ:FANG) by 54.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,510 shares of the oil and natural gas company’s stock after selling 4,200 shares during the quarter. Aviso Wealth Management’s holdings in Diamondback Energy were worth $605,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FANG. Blair William & Co. IL raised its stake in shares of Diamondback Energy by 13.6% in the 1st quarter. Blair William & Co. IL now owns 5,330 shares of the oil and natural gas company’s stock valued at $1,056,000 after purchasing an additional 640 shares during the period. Covestor Ltd increased its position in shares of Diamondback Energy by 105.9% in the first quarter. Covestor Ltd now owns 560 shares of the oil and natural gas company’s stock valued at $111,000 after acquiring an additional 288 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Diamondback Energy by 27.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,266 shares of the oil and natural gas company’s stock valued at $2,233,000 after acquiring an additional 2,432 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Diamondback Energy in the first quarter valued at about $40,533,000. Finally, UniSuper Management Pty Ltd increased its position in shares of Diamondback Energy by 337.8% in the first quarter. UniSuper Management Pty Ltd now owns 7,211 shares of the oil and natural gas company’s stock valued at $1,429,000 after acquiring an additional 5,564 shares during the last quarter. Institutional investors and hedge funds own 90.01% of the company’s stock.

Insider Activity

In other Diamondback Energy news, Director Mark Lawrence Plaumann sold 1,150 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $181.00, for a total transaction of $208,150.00. Following the transaction, the director now directly owns 4,712 shares in the company, valued at approximately $852,872. This represents a 19.62 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Lyndal Greth sold 13,212,830 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $175.11, for a total value of $2,313,698,661.30. Following the transaction, the insider now owns 1,037,819 shares in the company, valued at $181,732,485.09. The trade was a 92.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by insiders.

Diamondback Energy Stock Performance

NASDAQ FANG opened at $176.60 on Monday. Diamondback Energy, Inc. has a fifty-two week low of $145.70 and a fifty-two week high of $214.50. The stock has a market cap of $51.57 billion, a PE ratio of 10.11, a PEG ratio of 1.26 and a beta of 1.89. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.42 and a current ratio of 0.45. The firm’s fifty day moving average price is $181.16 and its two-hundred day moving average price is $191.33.

Diamondback Energy (NASDAQ:FANG) last issued its quarterly earnings data on Monday, November 4th. The oil and natural gas company reported $3.38 earnings per share for the quarter, missing analysts’ consensus estimates of $4.62 by ($1.24). The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.43 billion. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The company’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.49 EPS. On average, equities analysts expect that Diamondback Energy, Inc. will post 16.78 EPS for the current fiscal year.

Diamondback Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Thursday, November 14th. Diamondback Energy’s dividend payout ratio is currently 20.61%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FANG shares. Jefferies Financial Group started coverage on Diamondback Energy in a research report on Monday, September 16th. They issued a “hold” rating and a $185.00 target price on the stock. Barclays raised Diamondback Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $216.00 to $210.00 in a research report on Wednesday, October 2nd. Wells Fargo & Company reaffirmed a “sector outperform” rating on shares of Diamondback Energy in a research report on Friday, October 18th. Truist Financial lifted their price target on Diamondback Energy from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $210.00 price target on shares of Diamondback Energy in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.64.

About Diamondback Energy

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.